Consider the Possibility of Trade Between Countries

question 3

Multiple Choice

Consider the possibility of trade between countries.When opportunity costs differ between countries,

• A)comparative advantages may not exist.
• B)specialization and trade can lead to increases in the production of all commodities.
• C)each country should produce only those goods for which it has an absolute advantage.
• D)only the smaller countries will benefit from trade.
• E)only the larger countries will benefit from trade.

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Definitions:

Administrative Budget

A financial plan that outlines the expected administrative expenses and incomes, focusing on managing and operating an organization.

Spare Supplies

Additional or extra materials and items kept on hand to replace or replenish those in use as needed.

Administrative Budget

A financial plan that outlines the projected administrative expenses and revenues for an organization.

Expired Administrative Supplies

Office or medical supplies that are no longer usable or effective because they have passed their expiration date.